A Kansas City man has pleaded guilty in federal court to fraudulently obtaining nearly half a million dollars in COVID-19 relief funds through the Paycheck Protection Program.

The Delhi High Court held that delay in filing Form No. 67 cannot defeat a substantive claim for Foreign Tax Credit. It directed the Assessing Officer to verify and grant FTC, observing that denial on ...

A Kansas City man has pleaded guilty to COVID-19 fraud and faces up to 30 years in prison for it.

The Court held that failure to comply with payment conditions under the 2020 Scheme automatically revived withdrawn revision petitions. This made the assessee eligible under the 2024 DTVSV ...

An investigation by the Tennessee Comptroller’s Office has revealed questionable financial activity involving the executive director of Skills Training and Rehabilitation Services Incorporated (STARS, ...

New IRS rules for inherited IRAs became effective last year. Pay attention to avoid a 25% penalty and a "tax bomb".

ITAT Mumbai allowed foreign tax credit of ₹90,208 despite delay in filing Form 67, holding Rule 128 directory and procedural lapse cannot defeat substantive Sec 90/DTAA ...

Normally, the statute of limitations to claim a refund is three years from when you filed the return or two years from when ...

The proposed $150 billion data center, which would be accompanied by a power plant upgrade and major tax breaks, has drawn ...

The Tribunal held that non-filing of Form 10CCB along with return is a curable defect. A genuine start-up cannot be denied deduction under Section 80-IAC merely on procedural ...

ITAT Pune held that time limit of six months for filing an application u/s. 80G(5) of the Income Tax Act applies only to trusts which have not started charitable activities and not to trust which has ...

The Bombay High Court held that a pending penalty appeal qualifies as a “dispute” under the Vivad Se Vishwas Scheme. Rejection solely for absence of assessment appeal was set ...